Lindsey Richardson said she finds herself in the unusual position of a compliance consultant calling for more regulation of her clients.
Richardson is a compliance officer for PolicyWorks, an affiliate of the Iowa Credit Union League that works with about 100 credit unions and a dozen leagues across the country. She was referring to a pilot program now underway by the Federal Financial Institutions Examinations Council.
The program calls for FFIEC members–the Office of the Comptroller of the Currency, the Federal Reserve Board, the FDIC, the CFPB and the NCUA–to include cybersecurity issues in regularly scheduled exams at more than 500 community institutions, including credit unions.
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